However, I am also concerned about the possibility of a bank not renewing a loan and not being able to secure financing.

This will be owner occupied - we intend on living in the primary house and renting out the apartment in the back.. i would just like to secure a conforming mortgage to decrease the overall costs.

Even if remains they returned the note making the DOT ineffective, it only secures the outstanding amounts owing, if you owe nothing, it secures nothing.

.$50,000 loan secured by a property in the suburbs of Cleveland.

I would want a hold deposit equal to the security deposit.

If you decide to go with college rentals get co signers and decent security deposits, Dont forget the credit check and condition reports they are important.

the fact that the loan is in your name exposes you to the risk, i believe.however, getting a loan under LLC is impossible. noone will do it. they want the "security" of you backing up the loan.also comercial loans are crazy expensive (40% down with 8% APR or there about).having said that....we buy ours in our names then transfer to LLC via quit claim. whatever happens happens, i suppose..

The software at Rich Dad's seminar had amazing features that I feel would make my life easier as a REI.

My main issue with a short sale is related to not wanting to damage our credit when we will likely try to buy-up within the next 10 years.Lastly, we're looking at the SFR ($325k target) as something we would live in for five years before renting out as a long term buy and hold - we think we can secure a good 15 year loan that aligns with rental rates in the area.

That said I also would love to not sink so much cash into one asset where it will be tied up, both to allow for another investment down the line, and for general security of having more cash accessible.